tv Business - News Deutsche Welle October 11, 2017 3:15pm-3:31pm CEST
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strikes razed to the ground. the lives of families and friends shouted. it was super cute little house she actually had a dance studio in the garage that she taught ballet and so that's gone and it's always to do canning every summer and stuff and that's all gone and. and their whole their whole life you know whether their whole life is going. to some relief as they find their homes in tact. to see my house. but others have been left with nothing but the fire is still raging across california authorities say the number of dead and injured can only increase. you're watching it thanks for watching.
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spanish stocks john hughes that catalonia wants to talk before declaring independence the relief also pushes the euro to a two week high but analysts remain wary. also coming up from calls is a useless but businesses point to the merits of the north american free trade agreement the fourth round of negotiations begin today. and japan's coby steel is in trouble and with hundreds of companies that border its slowed alimony and copper products. this is the the view business i'm going have alfa's in berlin welcome independence yes but not yet that was the message kind of the leader collars put them on sent out last night and it was a message well received by investors after catalan leaders said they were
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suspending their bid for independence shares jumped by one and a half percent on madrid's ibex index of spanish blue chips shares in catalonia and banks shot up by more than two percent after two of them incorporated outside of the region in the event that it broke from spain many cattle and businesses remain on alert out and say there will swiftly leave the region if independents glocks them from trading within the e.u. . now let's see how the markets have reacted and go straight over to frankfurt where general demand is standing by general investors were rather cheered by the speech of put him out yesterday has that really been sustained after rejoice remarks around lunchtime today. it certainly looks that way gary hardwell european stocks have actually flattened out a bit but i thought the exception remained spain's i it's maintained an upswing
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even in the second half of the trading day today speech has been seen as a sort of deescalation effort that investors were looking for response maybe less so but what investors seem to think is that the founder central government has at least been pushed into a position where it can't be seen to walk away from talks as an option so that's seen by investors as a way out of the crisis and it has the added benefit of potentially salvaging the business climate in catalonia which has definitely taken a hit. well crisis averted at least for the moment apart from deescalation what outcome do markets want to see. while like i said the potential for talk is driving optimism in the markets but of course it would depend on the content of those talks now talks on independence are unlikely to go well but the talks for example that would outlined the future of catalonia the fiscal it talk of qana me would be seen by investors as much more productive in case they don't get that and a show of force from madrid for you is
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a renewed independence push from the side of the catalans well then companies will still have their contingency plans in the bag and they can be sure that other regions within spain would scramble to host the businesses that they would take out of the region in case the situation deteriorate. in frankfurt their own the situation in spain thank you very much. has been another bruising day for japan's coby still its stock plunged another twenty percent as the scandal over the safety of its products deepened japan's third largest largest steelmaker sold many m and copper products using falsified documents the possible used in cars planes and high speed trains customers have been scrambling to find out what's affected and if there's a safety risk. the first conference started with the usual boeing off except q-tips admitting guilt and with an admission that shook up industry heavyweights all over asia there is a possibility that our firm's products could have problems over their safety or
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quality products in question was sold over the past eighteen months after workers altered data on material strength and other factors to falsely show their products to meet customer specifications now the japanese government is pressing for action . i want colby's deal to do its utmost to regain the trust of its customers and of society. among those customers. car makers nissan suv bar all my stuff and honda toyota has already confirmed that products with falsified data was used in some vehicles the central japan railway company has used some of the products in cars for the shinkansen bullet train mitsubishi and cover saki have used called the steel products in fuselage just for aircraft including some for boeing all companies say that so far the products have not post the safety risk but that they will be exchanged. now this quickly cross over to singapore where our financial
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correspondent andrea hang is standing by that's upon i have a proper industry scandal on his hands and what's the reaction over there in asia well the word is core big and it's something that is definitely worrying investors and people around asia it looks like the wood is about to get even deeper the show is obviously plans twenty two percent today but that's not the only thing that's hurt japan's stay in the certification is also estate yeah. you know diesel gate has taught us that first only v.w. was caught cheating but others were found out too well the same happened in the japanese steel industry there as well that's a great example and a good question as well go hard looking back in looking back last year when the japanese are a whole new industry got hit by scandals as well and safety regulations as it is and inspections are the same could very well have been the steel industry seeing as
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a how quite interconnected we saw how skeletons more and more in much from the closet as the weeks go by so we have yet to see what it's going to bring us in the next few weeks underhand sample thank you very much. staying in asia north korea is currently not what you'd call a tourism hotspot is it it could have something to do with the fact that recently an american tourist was incarcerated there on spying charges if there really was tortured and died from his injuries shortly after his release bos tourism is one of the few sectors that is not effect effected by un sanctions a family vacation at the beach the bay of one son in north korea is great for bathing if you can live with the occasional salvos of rockets and artillery. the otherwise peaceful town kim jong un's summer residence is also the country's most important military staging area. from an outsider's view it seems
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rather unbalanced to launch missiles from a place being developed for tourism purposes but it's working for kim jong un's governing process. john young is spending billions to turn the v.a. into a tourist area and the one son special tourists and foreign investors have already ploughed around one and a half billion dollars into an area covering around four hundred square kilometers guests have to know what they can expect during the visit like when the country's military conduct swimming tests and the very day in front of their supreme leader one son for kim jong il and it's a location with family history his grandfather kim il stone the founder of the country also had a home here tourism and nuclear weapons a combination no seen to symbolize kim jong un survival strategy north korea. economy structure cannot produce much hard currency but. the tourism
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even though the amount of hard currency he earns not so great but it is in north korea terms it is easy money. plans to expand are in place the first ski slopes in the mountains directly behind one sunday have already been completed to attract a wealthier clientele a golf course is slated to follow currently around five thousand tourists come here every year. the holiday canada's prime minister just introduced was headed for washington for the fourth round of talks to revamp the north american free trade agreement today his visit comes as u.s. president donald trump again signals the deal is doomed he wants to bring back production to the united states but many businesses warn that terminating the agreement will be bad for all involved. renegotiating nafta
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isn't easy last evening the u.s. president sought out allies the stanley cup winning ice hockey team the pittsburgh penguins were guests at the white house he jokingly urged the club owners to jump until an after bandwagon i really mean that if you want to get involved in negotiating nafta i like it because we're renegotiating nafta run. because he may not like that because maybe he's on the other side that's what's happening that's why it's so hard to redo these trade deals because there's so many other things you know out of the other side of nafta right. in the mexican senate the foreign minister made it clear that his government is not in a joking mood when it comes to the agreement. we're going to lose but it we can't allow the free trade agreement to stop being for free traders if red tape restrictions administration tariffs and barriers are introduced this defeats the purpose of the agreement that doesn't suit mexico we have to be prepared to say no
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mexico is bigger than nafta. an agreement that took twenty years to negotiate it's hard to renegotiate but mexico would be willing to try still mexican negotiators want to avoid the new tariffs that trump suggested to prevent companies from leaving mexico for the u.s. not many support transposition even the powerful american lobbying organization the u.s. chamber of commerce is turning its back. we've been patient headed and constructive. let me right now be possible and direct there are several several. proposals still on the table that could. deal and that could mean deep trouble for the economy canada the usa and mexico are each other's most important trading partners and for many companies there is no plan b. the nafta agreement is vital for their survival. well
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